Accompanying the rising pool of aging of populations worldwide, and increased survival with chronic diseases, the incidence, and prevalence of atrial fibrillation (AF) are rising, which has emerged synonymous with the global epidemic. Intertwined with common concomitant cardiovascular diseases, which multifactorial arrhythmia shares classical cardiovascular risk factors like hypertension, hyperlipidemia, among others. Patients suffering from atrial fibrillation have a 5 times higher risk of strokes, which are known to be more disabling and more often fatal than strokes caused by other causes. The Centers for Disease Control and Prevention reportedly estimates that Atrial fibrillation, which is also monikered as Fib or AF around 12.1 million people in the United States will have AFib in 2030. Further, in 2018 around 175,326 death certificates had AFib mentioned in them and was the cause of 25,845 of those deaths. The CDC also states that people of European descent are more likely to have AFib than African Americans. Further according to the European Society of Cardiology through a press release in 2019 Atrial fibrillation is the most common heart rhythm disorder2 and accounts for 0.28% to 2.6% of healthcare spending in European countries. 20%-30% of strokes are known to be caused by atrial fibrillation. Further, it was estimated that 7.6 million people over 65 in the EU had atrial fibrillation in 2016 and were set to increase by 89% to 14.4 million by 2060.
Further, the prevalence is set to rise by 22%, from 7.8% to 9.5%. The proportion of these patients who are over 80 will rise from 51% to 65%. According to National Health Service, UK, atrial fibrillation is common in people with other heart conditions like pericarditis, high blood pressure (hypertension), heart valve disease, congenital heart disease, cardiomyopathy as well as atherosclerosis. In this regard, it is important to note that the World Health Organisation gad estimated that Cardiovascular diseases (CVDs) had been the main cause of deaths around the world and more people have died annually from CVD than due to any other causes. The main reasons for the high prevalence of CVDS are behavioral risk factors such as excessive use of alcohol, physical inactivity, unhealthy diet and obesity, and use of tobacco, which according to the NHS are can trigger an episode of atrial fibrillation. Thus, the aforementioned is responsible to contribute to the growth of the global cardiac mapping market during the forecast period which the Knowledge Sourcing Intelligence is projected to grow at a CAGR of 9.46% to attain a market size of US$1,527.102 million by 2025 from the market value of US$887.841 million estimated for 2019. On the other hand, it is important to note that from the systematic sequencing of the dog ventricle as early as 1915 by Sir Thomas Lewisthe global healthcare industry has witnessed the evolution of cardiac mapping from single sequential probe mapping to very sophisticated computerized three-dimensional mapping. It has always been an integral part of both experimental and clinical electrophysiology and has been profusely used in the surgical management of ventricular as well as supraventricular tachycardias, among others.
Certain recent developments associated with certain prominent market players indicate the need for responding to the urgency of addressing such non-communicable diseases concomitantly suggesting a robust growth of the cardiac mapping market. For instance, it was reported in November 2020, that Abbott (NYSE: ABT) has reportedly received CE Mark and approval in Australia pertaining to EnSite X EP System, which is its new cardiac mapping platform and is scheduled to launch across Australia and Europe. It is reportedly a novel cardiac mapping system that has been developed with contributions from electrophysiologists portfolio for the effective enhancement of cardiac ablation procedures. Besides, technological advancement too has fostered a variety of development and has the potential to reinforce the growth of the market propelling it to unprecedented heights. For instance, Boston Scientific Corporation (NYSE: BSX) had in June 2020 announced the launch of a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures in the U.S. reportedly known as DIRECTSENSE™ Technology and has been made available in on the RHYTHMIA HDx™ Mapping System. It is also the only tool that allows the monitoring of changes in local impedance around the tip of the INTELLANAV™ MiFi Open-Irrigated (OI) ablation catheter, extending an additional measurement of therapy effect during ablation to physicians.
The increasing number of elderly populations is one of the factors that is expected to partly contribute to the growth of the market.
Projection of Population Aged 65+, Northern America
The NHS also states that atrial fibrillation is more common with age and according to World Population Prospects 2019 (United Nations, 2019), every region in the world has embarked on the longevity revolution and are poised to experience the transition,in which the chance of surviving to age 65 has reportedly risen from 50 % (which has been the case with Sweden back in 1890) to more than 90 % at present in countries with the highest life expectancy. Additionally, the percentage of adult life spent beyond age 65 had reportedly increased from less than a fifth recorded in the 1960s to 1/4th or more in most developed countries in present times. Growing old is a global and an investable process and almost every country in the world is reported to experience the growth in the share and size of older persons in their respective populations. In 2019, globally there were approximately 703 million persons who are 65 years of age or above. By 2050 the number of elderly people is projected to double to 1.5 billion. In 2019, Globally, the share of the population that is of 65 years and above increased from the estimate of 1990 which were to the tune of 6 % in 1990 to 9 %, which is projected to rise further to 16 % by 2050. The South-eastern and eastern Asia as well as the Caribbean and Latin America are the regions that are poised to experience the fastest population aging. To this end, the UN estimates that in the region of Eastern and South-Eastern Asia, the percentage of the population aged 65 years or over has approximately doubled from 6 % in 1990 to 11 % in 2019 and the region of Latin America and the Caribbean have witnessed the growth of population from 5 % in 1990 to 9 % in 2019. Besides, all the four regions of Western Asia and Northern Africa, the Caribbean and Latin America, Southern and Central Asia, and South-Eastern and Eastern Asia are estimated to witness their elderly population to double between 2019 and 2050.